ManoCap is an investment and advisory firm focused on building businesses in Africa.

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About us

ManoCap has been investing in West Africa since 2006. Since then we have seen first-hand the opportunities that exist in frontier markets, the significant development impact that business can have and the major risks that can cause long term harm to investor capital.

Building on that experience we now focus on two things: growing our portfolio of investments and advising others (development finance institutions, fund managers, corporations and development institutions) on how to invest their capital.

Investment

ManoCap invests its own capital, alongside third-party investors, in a portfolio of businesses that we plan to own for the long term.

Today, our objective is to build our portfolio organically, while identifying new opportunities to put money to work. We are looking for investments with the following characteristics:

  • Operating in sectors that we understand and where we can add value
  • Businesses with high growth potential and a significant competitive advantage
  • Management teams we know and trust
  • Businesses where we can maximise our stake
  • Pricing that reflects a significant margin of safety

Our aim is to maximise returns to investors while taking as little risk as possible. In frontier markets, crisis is the norm. We look to work with businesses that are robust enough to thrive in such an environment, and work with managers with the integrity and ability to be effective in both good times and bad.

We do this because we believe that businesses have a significant impact in improving peoples’ lives – either by creating jobs or providing goods and services that are needed by the poor.

Advisory

ManoCap Advisory provides strategic advice to investors, businesses and development institutions. Grounded in our experience of building businesses and investing in Africa’s frontier markets, our team helps clients make better decisions in challenging, data-poor environments.
For impact investors and private equity funds, we offer deal origination and transaction advisory services:
  • Market analysis
    Mapping sectors, macro trends and stakeholders
  • Pipeline development
    Identifying firms with strong growth potential
  • Investment analysis
    Modelling growth projections, conducting due diligence
  • Risk advisory
    Counter-party and macro risks assessments
For SMEs and corporates in Africa, we offer investment readiness preparation services:
  • Valuation
    Financial model development, financial analysis
  • Investment strategy and structuring
    Sourcing investors, developing term sheets, negotiations support
  • Business development strategy
    Client introductions, accessing new markets, finance and operations advisory

…we believe that businesses in frontier markets can deliver strong returns while having a positive development impact

Team

Our team has over 25 years of experience working and investing in West Africa

Tom Cairnes

Tom is the Chairman of ManoCap and has been living and working in West Africa since 2004. Over the past years, he has assessed opportunities and executed investments in a range of sectors, including financial services, agriculture and energy. Tom previously worked for Lansdowne Partners, a UK based hedge fund manager focusing on UK equities, and as a management consultant for Marakon Associates in London, New York, Amsterdam and Mexico, focused primarily on the financial services sector.

He holds an M.Phil in Development Studies from Cambridge University and a BA in Human Sciences from Oxford University.

Johannes Olschner

Johannes has 6+ years’ experience advising institutional investors, donors and multinationals on risks and opportunities in the financial services, mining, oil and gas, agriculture and telecommunications sectors. He previously worked at a leading London-based risk management consultancy, where he conducted due diligence and market entry studies for major financial institutions, corporations and investment funds. Earlier in his career Johannes worked on a range of foreign and security policy issues in the UK, including as Foreign and Defence Affairs Researcher in the Liberal Democrats Policy and Research Unit.

Johannes holds an MA in Conflict, Security and Development from King’s College London and a BA in History from University College London.

Daniel Osei-Antwi

Daniel has over 10 years’ experience in the technology and financial services sectors. Based in Ghana, he is a Director of ManoCap and the Managing Director of Splash Mobile Technologies. Before moving to West Africa, Daniel was an investment banker with Barclays Capital in New York, where he worked on M&A, restructuring and large debt and equity transactions for power and energy sector clients. Earlier in his career, Daniel gained extensive start-up experience during three years as an engineer with Nexant, a venture capital-backed firm that has grown to become a leading provider of energy technology solutions and advisory services in North America.

Daniel holds an MBA from Harvard Business School and a BS in Electrical Engineering from Union College, NY.

Our Impact

We do what we do because we believe that businesses have a significant impact in improving peoples’ lives – either by creating jobs or providing goods and services that are needed by the poor.

Over the last 10 years our investments have provided over 60% of the fish sold in Sierra Leone (fish makes up 80% of the protein intake of the country), enabled payments to health care workers during the Ebola outbreak and facilitated the establishment of new agricultural projects. All of the businesses in which we invest must have a positive impact in the countries in which they work

In addition, over the last 10 years, ManoCap has established two charities that work in areas in which our team has a strong personal interest.

Welbodi Partnership

The Welbodi Partnership is focused on improving child and maternal health in Sierra Leone. Having worked directly with the Ola During Children’s Hospital in Freetown, Sierra Leone since 2007, the Welbodi Partnership now also supports a range of activities in the Princess Margaret Maternity Hospital in Freetown as well as community outreach programmes to improve health seeking behaviours in the poorest urban areas of the city.
www.welbodipartnership.org

The Freetown Foundation provides direct support to the arts in Sierra Leone. Our objective is to support the creation of long-term employment in the arts through skills workshops and by organising the annual Freetown Music Festival to showcase local talent.
www.freetownmusicfestival.com

Freetown Foundation

The Freetown Foundation provides direct support to the arts in Sierra Leone. Our objective is to support the creation of long term employment in the arts through skills workshops and by organising the annual Freetown Music Festival to showcase local talent.